How about a national wealth tax?

Posted
Sunday, March 17, 2019 7:38 pm

To the editor:

Here is the big problem for Democrats:

The Republicans are correct when they say that we have not had a new idea for the past 50 years. They are also right when they say that we have had no real national platform/agenda that we stand for, aside from constantly bashing Donald Trump, because he has an obnoxious personality, has a disgusting and disrespectful attitude toward women, and tries to divide all of us with his incessant insults.

I’m not the smartest guy in the world, but at least I have a platform/agenda that I stand for.

I want the federal government to do more and spend more to help our citizens who are poor, near-poor, lower middle class, and middle class as they struggle to survive and pay their bills. I want the national Democratic Party to be the way it was in the 1960s when we cared more about all of these people and fought harder to make life better for them.

The problem with the national Democrats is that they have offered no way to pay for anything that would help to make life better for us. Our national debt is through the roof. Our federal government budget deficit is close to $1 trillion a year.

We really need to be fiscally responsible and not spend money that we don’t have.

So we are stuck, and we have been spinning our wheels for the past 50 years doing virtually nothing to help anyone. It’s no wonder why people are sick and tired of us. We haven’t offered anything new or different. I’m sick and tired of us.

The only way to get the revenue to actually do something to help Americans is something the national Democrats won’t advocate. So I will. Oddly enough, Donald Trump proposed it in 1999.

The only way to get the revenue to fund my platform/agenda is to pass a national wealth tax. The problem with wanting to raise the top income tax bracket is that it won’t generate much revenue. If you want to play Robin Hood (as I do), you have to tax wealth because that’s where the big bucks are.

So, I advocate for the passage of a national wealth tax of 10 percent on all individuals with a net wealth and net worth of $10 million and higher. This will affect less than 1 percent of our population.

If we want to have a Canadian-style national health insurance program, which will help everyone except the very rich, this is the only way to come up with the money for it.

Look up Trump’s proposal in 1999 (before he became a big fake conservative). He proposed a 14.25 percent national wealth tax on all those with a net work of $10 million and higher. He wanted the revenue generated to go toward eliminating the national debt and toward adding to the Social Security Trust Fund to make it fully solvent for additional years.